Follow Us :

Archive: 19 April 2011

Posts in 19 April 2011

Inviting suggestions for Elections Reforms – Constitution of Elections Reforms Committee

April 19, 2011 498 Views 0 comment Print

As you are aware, the Elections to the 11th Council and four Regional Councils of the Institute of Company Secretaries of India were held in 2010 in accordance with the Company Secretaries (Election to the Council) Rules, 2006 read with the Company Secretaries Act, 1980 and the Company Secretaries Regulations, 1982. The elections to the Managing Committees to the Chapters were also held recently in terms of the Company Secretaries Chapter Guidelines, 1983.

Extension of Certified Facilitation Centre Scheme under ACES

April 19, 2011 525 Views 0 comment Print

MOU between ICWAI and CBEC entered into on 13th April 2010 to facilitate Cost Accountants to set up Certified Facilitation Centres (CFC) under the Automation of Central Excise and Services Tax (ACES) Scheme of CBEC has been extended with effect from 1st April 2011 for a period of two years and shall remain valid till 31st March 2013 unless the Scheme is withdrawn by CBEC.

Competition Commission of India and The Competition Act

April 19, 2011 1511 Views 0 comment Print

Competition is the best means of ensuring that the ‘Common Man’ or ‘Aam Aadmi’ has access to the broadest range of goods and services at the most competitive prices. With increased competition, producers will have maximum incentive to innovate and specialize. This would result in reduced costs and wider choice to consumers. A fair competition in market is essential to achieve this objective. Our goal is to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of the consumers.

New Sahaj tax form asks information on agricultural income

April 19, 2011 1322 Views 0 comment Print

The Income Tax Department has asked taxpayers to furnish details earned from agriculture in its newly modified I-T return form — Sahaj — for assessment year 2011-12. Known as Saral-II and originally meant for the service-class, the Sahaj form has a column devoted to income from agriculture. “This information on agricultural income is for record only and not to be taxed,” a senior I-T official said.

Reg. Import of Gummy Pizza containing beef from China & Indonesia

April 19, 2011 1253 Views 0 comment Print

Import of Beef in any form and import of products containing beef in any form is prohibited; (b) All consignments of edible oils and processed food products, imported in bulk, shall carry a declaration from the concerned exporter on the shipping documents that the consignment does not contain beef in any form; (c) All consignments of edible products, imported in consumer packs, shall carry a declaration on the label of the package that the product does not contain beef in any form.

Filing of Income tax returns gets Sahaj and Sugam

April 19, 2011 2732 Views 0 comment Print

The finance ministry today introduced “Sahaj” and “Sugam” forms to make the process of filing income tax returns simpler, user-friendly and to reduce compliance burden on salaried persons and small businessmen. “Sahaj and Sugam are major steps towards simplification of income tax return filing,” said Sudhir Chandra, chairman of the Central Board of Direct Taxes. He also said efforts were being made to facilitate electronic filing through Sahaj and Sugam I-T return forms.

Conditions and modalities for registration of contracts of Assam Comilla Cotton with DGFT

April 19, 2011 931 Views 0 comment Print

Policy Circular No. 29(RE-2010)/2009-14 – All applications for grant of registration certificate shall be submitted to the RA, Guwahati alongwith the following documents: (i) Copy of Export Contract alongwith, (a) A copy of irrevocable Letter of Credit(LC) duly authenticated by an Indian Bank, or (b) FIRC from Bank showing receipt of remittance from the concerned foreign buyer as proof of having received 100% Advance Payment or a minimum of 25% Advance Payment and balance Cash Against Delivery(CAD),

Accounting Treatment of Enhanced Provision of Gratuity

April 19, 2011 5144 Views 0 comment Print

The pay revision of the officers and employees has been carried out by the Public Sectors Insurance companies in the year 2010-11 and Government by Gazette, Notification dated May 24, 2010 has revised upward maximum limit for Gratuity under “Payment of Gratuity Act 1972” from Rs. 3,50,000/- to Rs. 10,00,000. The above factors will lead to the increase in liability on account of gratuity which in turn will impact the insurers profitability significantly as they need to provide the same in the financial year 20010-11. This will cause a strain on their solvency as well as on their performance results. Ref:IRDA/F&A/CIR/ACT/069/04/2011 Date:18-04-2011

PVAT Act 2005 – Declared Goods except wheat and paddy will be taxable @ 4.4% w.e.f. 08/04/2011

April 19, 2011 1943 Views 0 comment Print

Ceiling rate on declared goods have been enhanced from 4% to 5% by Central Govt in the Budget of 2011-12. Which follows that rate of tax on declared goods cannot exceed 5%. Rate of tax on paddy and wheat has been enhanced by the Punjab Govt from 4% to 5% by including these goods in schedule B of PVAT Act 2005.

Download ITR 1 Sahaj and ITR 4 Sugam for A.Y. 2011-12/Financial year 2010-11

April 19, 2011 27259 Views 0 comment Print

Sugam – Presumptive Business Income tax Return- SUGAM (ITR-4S) for A.Y. 2011-12 Financial year 2010-11. Indian Individual Income tax Return for those who are not having Income from Business but having Income from Salary – ITR-1 SAHAJ for A.Y 2011-12 Financial Year 2010-11. ITR –V Acknowledgement for ITR-1 SAHAJ, ITR- 2, ITR-3, SUGAM (ITR-4S), ITR-4, ITR 5 and ITR 6- ITR-V-ACKNOWLEDGEMENT for ITR 1 to 7.

Search Post by Date
June 2024